agent Entrepreneur logo
MenuMENU
SearchSEARCH

Toyota Said to be Preparing to Pay $16M U.S. Fine

April 18, 2010
2 min to read


WASHINGTON - Toyota Motor Corp. on Monday will agree to pay the record $16.4 million fine levied by the U.S. Transportation Department, according to an official at the agency, Bloomberg reported. Toyota, which has recalled about 8 million vehicles worldwide for defects that may cause unintended acceleration, was fined by the U.S. auto safety regulator for failing to alert the government about circumstances in which gas pedals may stick. The department official asked not to be identified ahead of the announcement. The fine, which amounts to less than 2 percent of Toyota's projected net income for the year ended March 31, may bolster the case for plaintiffs seeking compensation from the Japanese carmaker. At least 180 consumer and shareholder lawsuits are seeking class-action status and at least 57 individual suits are claiming injuries or deaths caused by sudden acceleration incidents in Toyota vehicles. “The fine is coming on top of costs from increased incentives and vehicle testing,” said Tatsuya Mizuno, director of Mizuno Credit Advisory in Tokyo. “At this point, there's no telling what will come of the lawsuits.” Paul Nolasco, a Toyota spokesman in Tokyo, declined to comment. The carmaker could have contested the fine, which is the maximum amount the National Highway Traffic Safety Administration can levy. The fine, imposed April 5 by NHTSA, may be followed by additional penalties because the pedals supplied to Toyota by CTS Corp. “had two separate defects that may require two separate remedies,” the agency told the company in a letter the day it announced the civil penalty. Toyota has 30 days to pay the $16.4 million.

More Industry

Two dodge cars outside of dealership.
Industryby Lauren LawrenceSeptember 17, 2026

Auto Affordability Inches Up

The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.

Read More →
Five men smiling for photo in front of Honda car dealership.
Industryby Lauren LawrenceSeptember 10, 2026

Ohio Auto Group Under New Ownership

After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.

Read More →
Blue and white RV parked on beach facing the ocean.
Industryby Lauren LawrenceSeptember 3, 2026

RV Group Expands Carolina Footprint

Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.

Read More →
Ad Loading...
Photo of two men and one woman on a discussion panel
Industryby Hannah MitchellSeptember 1, 2026

Agent Acumen

An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.

Read More →
Gloved hand holding two wrenches next to “Turn Overdue into Opportunity” Graphic
Industryby Lauren LawrenceAugust 27, 2026

Missed Maintenance Creates Opportunity

As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.

Read More →
Mitsubishi shadow line-up
Industryby Hannah MitchellAugust 25, 2026

Mitsubishi Unveils U.S. Plan

The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.

Read More →
Ad Loading...
Photo of a laptop, cellphone and eyeglasses on a desk next to an office window
IndustryAugust 24, 2026

Selling to Grow

The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.

Read More →
Mechanic holding a vehicle diagnostic device while standing above an open car hood
Industryby Hannah MitchellAugust 24, 2026

Recalled Vehicles Hit 5-Year High

Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.

Read More →
outside of car dealership with cars parked in front
Industryby Lauren LawrenceAugust 20, 2026

Auto Group Acquires Top-Performing Rooftop

Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.

Read More →
Ad Loading...
Cars from the rear on a Shanghai freeway
Industryby Hannah MitchellAugust 19, 2026

China as Pacesetter

Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.

Read More →
Ad Loading...